We all want our wedding to be beautiful, romantic, lifetime memory. And we need to make that happen on an affordable budget.
Now that you came to the planning part, you’re starting to realize, how much a wedding actually is.
Therefore to plan the wedding you have always wanted and not ruin your bank account, you need to do some serious budget planning.
Maybe you’re not sure if you really need a wedding budget. But trust me on this, you do. It’s the only way to spend money rationally.
There will be so many pretty stuff you will want to buy and so many shopping impulses.
You don’t want to be spending money just based on your emotions, you need to make a plan.
Otherwise, you might end up out of money before your wedding even starts.
This article will walk you through the basic steps how to create your budget. Before you create your budget, you might want to check out these 12 of the Best Smart Saving Tips for an Affordable Wedding. It might help you to save some expenses.
Step 1: Count the Money You Have to Spend
This step is obviously vital for the rest of the budget planning. First, count your own money and define, how much can you and your fiancé spend on the whole wedding. Then ask your and his parents if they are willing to contribute and how much.
This conversation naturally feels a little bit awkward. But you need to create your budget, so you have to find out. Some parents might be willing to rather pay for a certain item, such as your wedding dress, a wedding cake or your honeymoon. Ask them for their price range or the maximum price.
Step 2: Write a List of Priorities
This will make it clear to you, where you are willing to spend some extra money and where on the other hand can you save. You can download an adjustable spreadsheet with generic budget that I’ve created for you to start with.
Play around with the template and add items you’re planning to buy and you’re missing. You have to make it applicable to you to be able to use the budget fully to your advantage.
Talk to your fiancé about things that are important to you. You might both have different priorities so make sure to always find some compromise. Discuss also the things, that aren’t of such high priority and things that you can even leave out completely.
Step 3: Find out the Approximate Costs
Now you will need to do some research and get in touch with few local vendors and venues. You need to have an idea how much are they charging. Make sure to always ask several vendors in each category to be able to compare their prices and see the price range.
Step 4: Create Your Affordable Budget
It’s time to put it all together and create a budget for your wedding. It might take a while to compare money you have and what you need to spend and tweak it around according to your priorities.
There are two tips you should take into consideration:
- Tip 1: You also want to put some money aside for last minute spendings. These are usually unexpected but they always occur.
- Tip 2: Don’t forget about tips for vendors. You don’t have the obligation to tip them, but it’s considered common courtesy. Usually, it’s a sign of your gratitude for a successful wedding. You can approximately estimate the tips based on their hourly rates.
Step 5: Stick to Your Budget
Maybe the most difficult step of them all. Like I said, there will be many shopping impulses. There are so many insanely beautiful things, especially when it comes to decoration.
This is also where most people overspend their budget. Therefore keep shopping for decoration for later in the process when you already have the venue, dresses and most expensive items.
Another area, where people usually overspend are extras like a string quartet, harpist, second photographers, white doves and others, the wedding industry has a lot to offer.
It might become really difficult to stay reasonable when it comes to your wedding. Usually, the groom is much more capable to stay within the budget. He didn’t plan his wedding ever since and males are in general more rational creatures.
If you are a shopaholic, maybe you should admit, that it’s not a good idea for you to be in charge of the budget.
You can also find someone who can help you with your wedding budget. Someone you can trust and preferably someone with experiences. You can ask your mom, bridesmaid or a wedding planner.
Step 6: Create a saving plan
In case you don’t have the money for your wedding just yet and there’s still quite some time left, you can create a weekly base saving plan.
You will start slow and from week to week you will increase the amount to save.
You can also stick to this template I created for you (you can print it if you like).
I would suggest to buy or create a nice box where you at the end of each week put your money in. You will see all your money at one pile and it will keep you motivated for saving.
Then when it comes to spending money for your wedding (according to your budget!) you put this money to a bank account.
You want to pay your wedding bills electronically so that you can keep better track of them. Especially you never want to pay large amounts of money in cash.
I hope you find these tips helpful. If there is any kind of template or information you’re missing, let me know in the comment or via the contact form and I will look into it. 🙂